SIX Interbank Clearing: Include a symbol for Bitcoin in ISO 4217

SIX Interbank Clearing Ltd (SIX) is the official record keeper for the ISO 4217 list of three-letter currency symbols. SIX has declined previous requests to assign a symbol for Bitcoin, providing shallow arguments about how Bitcoin is not associated with any institution or government. However, during 2012, Bitcoin has further re-inforced its status as the dominant paradigm in electronic currency. The security of Bitcoin has been asserted by a detailed analysis from experts in ETH Zurich, and Bitcoin was the primary currency featured in a digital currencies report published by the European Central Bank in October 2012. To undertake its responsibilities fully, SIX needs to properly investigate (a) the fact that Bitcoin is now in widespread use and (b) establish for themselves (possibly by appointing an advisor on digital currency) that the cryptographic nature of Bitcoin means that it can exist as a currency without requiring the backing of any institution, just as gold (symbol XAU) and silver (symbol XAG) are also able to exist on the ISO 4217 list without the backing of any institution. By following such a process, SIX will surely come to the conclusion that Bitcoin is a currency and must be included in ISO 4217.